Investors Love Divided Government - Algo Enhanced 2016 Edition -

UPDATED: 02-Nov-2016 

 Algos For Hillary 

So this happened. Last week the stock market was percolating along with moderate gains on the back of positive economic news and earnings results. Then, on Friday (28-Oct-2016) FBI director James Comey released a letter to Congress indicating FBI investigators found additional Clinton private server e-mails. The new e-mails may or may not have any relevance to his prior testimony but, in an abundance of caution, Comey informed Congress. The DJ Industrial average immediately dropped almost 200 points. 

This NPR story was typical of business media coverage: "The Stock Market Stumbles After Friday's Clinton Email News."

"Around the time that the email news broke, the Dow Jones industrial average plummeted from a peak of 18,255 to a trough of 18,097. That's not quite 1 percent, but the sharp drop, albeit small, is a sign of a broader storyline that has persisted through this election: that investors are scared of a Trump presidency."

Partisan bluster aside, after it became apparent that breathless mainstream and social media reporting was less than meets the eye or that can be supported from the actual content of Comey's letter, the market recovered most of the midday losses.

 CNBC "Closing Bell" wraps it up: